Nwam LLC Invests $515,000 in Occidental Petroleum Co. (NYSE:OXY)

Nwam LLC purchased a new position in shares of Occidental Petroleum Co. (NYSE:OXY - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 9,987 shares of the oil and gas producer's stock, valued at approximately $515,000.

Several other institutional investors and hedge funds have also recently modified their holdings of OXY. Earnest Partners LLC increased its stake in Occidental Petroleum by 2.6% during the first quarter. Earnest Partners LLC now owns 6,850 shares of the oil and gas producer's stock worth $445,000 after acquiring an additional 173 shares during the last quarter. Commerzbank Aktiengesellschaft FI raised its holdings in Occidental Petroleum by 2.0% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 9,088 shares of the oil and gas producer's stock valued at $573,000 after buying an additional 175 shares during the period. Atria Wealth Solutions Inc. lifted its position in Occidental Petroleum by 0.6% in the second quarter. Atria Wealth Solutions Inc. now owns 27,519 shares of the oil and gas producer's stock valued at $1,735,000 after buying an additional 176 shares during the last quarter. Raymond James Trust N.A. boosted its stake in Occidental Petroleum by 1.0% during the second quarter. Raymond James Trust N.A. now owns 17,592 shares of the oil and gas producer's stock worth $1,109,000 after buying an additional 182 shares during the period. Finally, Gateway Advisory LLC raised its stake in shares of Occidental Petroleum by 3.9% in the 2nd quarter. Gateway Advisory LLC now owns 4,847 shares of the oil and gas producer's stock valued at $306,000 after acquiring an additional 184 shares during the period. Institutional investors and hedge funds own 88.70% of the company's stock.

Occidental Petroleum Price Performance

OXY stock traded down $1.48 during midday trading on Monday, hitting $50.45. 13,788,118 shares of the stock were exchanged, compared to its average volume of 9,381,530. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.76 and a current ratio of 1.00. The stock has a market cap of $47.34 billion, a price-to-earnings ratio of 13.14 and a beta of 1.58. Occidental Petroleum Co. has a fifty-two week low of $48.42 and a fifty-two week high of $71.18. The stock's 50-day moving average price is $51.79 and its 200-day moving average price is $56.91.

Occidental Petroleum Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 10th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, December 10th. This represents a $0.88 dividend on an annualized basis and a yield of 1.74%. Occidental Petroleum's payout ratio is 22.92%.

Wall Street Analysts Forecast Growth

OXY has been the subject of several research reports. Evercore ISI dropped their target price on shares of Occidental Petroleum from $67.00 to $63.00 and set an "underperform" rating for the company in a report on Monday, September 30th. BMO Capital Markets dropped their price objective on Occidental Petroleum from $70.00 to $65.00 and set a "market perform" rating for the company in a research note on Friday, October 4th. Stephens increased their target price on Occidental Petroleum from $70.00 to $71.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 13th. The Goldman Sachs Group assumed coverage on Occidental Petroleum in a research report on Wednesday, October 2nd. They issued a "neutral" rating and a $55.00 target price for the company. Finally, UBS Group reduced their price target on shares of Occidental Petroleum from $59.00 to $58.00 and set a "neutral" rating on the stock in a research report on Monday, November 18th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $63.70.

About Occidental Petroleum

Occidental Petroleum Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of oil and gas properties in the United States, the Middle East, and North Africa. It operates through three segments: Oil and Gas, Chemical, and Midstream and Marketing. The company's Oil and Gas segment explores for, develops, and produces oil and condensate, natural gas liquids (NGLs), and natural gas.